Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2014
 

Sales and Use Tax Annotations


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C

190.0000 CONSTRUCTION CONTRACTORS—Regulation 1521

Annotation 190.2838.500

(e) FIXED-PRICE CONTRACTS

190.2838.500 Fixed Price Contract—Materials. A contract provides that a purchaser could vary the quantities ordered by using a change order, but it could not do so without making an "equitable adjustment." The contract also provides that if the purchaser terminates the contract, the seller is entitled to an "equitable adjustment" for materials in progress. Neither of these provisions would prevent the contract from qualifying as a fixed price contract. 1/19/90.